Market Analysis for Sep 29th, 2004

For today's Mid-Day Minute, Mike writes: The E-SPZ continues to gyrate in a sideways range, which as of now, represents a BULLISH congestion area within the recovery rally that started yesterday at 1102.75. As long as this AM's swing pullback low remains intact and viable, the sideways congestion pattern should resolve itself to the upside initially climbing above 1112.00/50, which then should trigger additional strength that propels the index into the critical resistance area between 1114 and 1115. And ONLY a sustained rally above 1115.00 will trigger still more upside into our optimal target zone of 1117.00-- up to 1120. So far, so good.

For more of Mike Paulenoff, sign up for a FREE 30-Day Trial to his E-Mini/Index Futures diary at. Or try his QQQ Trading Diary.


  Matched
x
  • In our live, interactive Trading Room, we identify trading opportunities in ...
  • Equity Index Futures
  • Index & Sector ETFs
  • Individual Stocks
  • Precious Metals
  • Energy
  • Forex
  • Treasuries
  • International Markets
  • And Much More
Join MPTrader Now!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!